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Same Song, Same Dance: Evidence Of Patterns In Securities And Exchange Commission Funding

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  • William E. Bealing
  • Edward Pitingolo

Abstract

The actions of Congress and the Securities and Exchange Commission subsequent to a financial crisis appear to follow a predictable set of steps. Each tries to position itself to gain the resources it needs to survive by couching its actions in terms of legitimacy. One outcome is a predictable dance that culminates with the annual funding process. The events surrounding the financial collapse of Lehman Brothers and the resulting scrutiny of the Securities and Exchange Commission are hardly unique. In fact, they appear to be the predictable result of a period of boom and bust. These predictions are based on the historical behavior of politicians in funding the Commission. This paper uses an institutional theory perspective to examine the funding patterns in the wake of the collapse of Enron in 2001 and the global financial crisis precipitated by the collapse of Lehman Brothers in 2008. Implications for the Securities and Exchange Commission are provided.

Suggested Citation

  • William E. Bealing & Edward Pitingolo, 2015. "Same Song, Same Dance: Evidence Of Patterns In Securities And Exchange Commission Funding," Review of Business and Finance Studies, The Institute for Business and Finance Research, vol. 6(2), pages 1-10.
    • Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:1-10
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    File URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-1.pdf
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    References listed on IDEAS

    as
    1. Bealing, William Jr, 1994. "Actions speak louder than words: An institutional perspective on the Securities and Exchange Commission," Accounting, Organizations and Society, Elsevier, vol. 19(7), pages 555-567, October.
    2. Bealing, William Jr & Dirsmith, Mark W. & Fogarty, Timothy, 1996. "Early regulatory actions by the SEC: An institutional theory perspective on the dramaturgy of political exchanges," Accounting, Organizations and Society, Elsevier, vol. 21(4), pages 317-338, May.
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    Cited by:

    1. Hagen Rafeld & Sebastian G. Fritz-Morgenthal & Peter N. Posch, 2020. "Whale Watching on the Trading Floor: Unravelling Collusive Rogue Trading in Banks," Journal of Business Ethics, Springer, vol. 165(4), pages 633-657, September.

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    More about this item

    Keywords

    SEC; Institutional Theory; Regulation;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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